CSO study cites affordability and ‘failure to get around to it’ as main reasons for shortfall
The CSO Pensions Survey is carried out on an annual basis as par of the Labour Force Survey. It includes pension coverage that workers have with the current employer and from previous jobs.
Jerry Moriarty, chief executive of the Irish Association of Pension Funds said the figures showed that just 50.4 per cent of workers are currently contributing to an occupational or private pension, though he acknowledged this was a “welcome improvement” on the 2018 figure. “The last Public Service Pay Commission report found that, while there is almost 100 per cent pension coverage in the public sector and some parts of the private sector, the overall figure for the private sector is just 40 per cent,” he said.Foreign national continue to be far less likely to have some form of private pension saving, according to the data, although the figure is rising.
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